Avro India plans to list Avro Recycling by FY28, eyeing Rs 300 cr via IPO

Avro India plans to list its wholly-owned subsidiary Avro Recycling by FY28 and raise up to Rs 300 crore through a public issue to support the expansion of its recycling business, a top company official said on Thursday.Managing Director Sahil Aggarwal said the company is exploring a standalone listing of Avro Recycling, which currently operates under the Avro India umbrella, to mobilize funds for future growth.

“We would do a standalone listing of Avro Recycling Limited as it is now under Avro India Limited and that way we will be able to raise a lot of money,” Aggarwal told PTI on the sidelines of a corporate event here.

He added that the company expects to raise around Rs 200-300 crore in a single tranche through the proposed listing, depending on market conditions.

The money would be used to set up additional recycling plants across the country. Currently, Avro Recycling undertakes the in-house production of recycled plastic pellets for Avro India, which is mainly engaged in the production of plastic furniture.

According to the company’s website, Avro currently has the capacity to recycle 6,000 tons of plastic waste annually and produce up to 5 million pieces of furniture, reflecting its focus on scaling sustainable solutions.